India Automotive Bearing Market is to be driven by Two Wheelers Segment During the Forecast Period 2029
Increasing demand towards
electric vehicles and development in automotive technology drives the India
Automotive Bearing Market through 2028.
According
to TechSci Research report, “India Automotive Bearing
Market – By Region, Competition, Forecast, and Opportunities, 2029F,” The performance and dependability of vehicles are
essential to automobile companies. Due to consumer demands for comfort,
electrification, autonomous driving, and noise reduction, manufacturers are
being forced to assess every aspect of their cars. The automotive bearing's
main objective is to make sure that the car's moving components, such as the
steering column and seat track rails, move easily and silently. The three main
types of bearings are ball bearings, roller bearings, and simple bearings. Ball
bearings, as their name suggests, use rows of balls as the rolling elements and
offer extremely low rolling friction, even though this form of bearing has a
limited load capability. Additionally, compared to ball bearings, roller
bearings, which have rolling components in the form of a cylinder, have a
greater loading capacity. A plain bearing, also referred to as a sliding
contact bearing, is the most basic form of bearing and contains a bearing
surface. In addition, as technology advances and automobile sales rise in last
year, the demand for the automotive bearings market in India continues to grow
in 2022 and it is expected that it will grow at higher rate in coming years.
Due to its ties to many different industries, the
automotive industry is regarded as one of the major drivers of economic
development. With 17.5 million domestic sales of automobiles in FY22, India is
one of the world's biggest markets for these vehicles. The two-wheeler and
passenger car markets also control the automotive industry. To create bearings
for vehicles that are more effective and long-lasting, the manufacturers of
automotive bearings are investing in research and development. This results in
more advance bearings for vehicles with cost effectiveness in the market. Additionally,
many manufacturers are concentrating on creating unique bearings for electric
vehicles as the Indian government pushes for the adoption of electric passenger
cars and two wheelers in India.
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"India Automotive Bearing Market"
Many
organizations invested and collaborated with other companies to improve their
market shares in India automotive bearing market. For example, , in 2022,
Schaeffler India opens a warehousing and consolidation facility
in Hosur. The state-of-the-art building is 100,000 square feet in size and
equipped with cutting-edge technology and infrastructure. Furthermore, in 2023,
the first widely accessible electric light-duty pickup truck to reach the
market, the Ford F-150 Lightning, was using packaged wheel bearings developed
by Timken Corporation.In 2021,
NTN Corporation expanded the mass production of needle roller bearings with its
proprietary solid grease for motorcycle swing arm pivot shafts. Also, the NTN
Company created a Multi-Track Magnetic Encoder Integrated Rolling Bearing in
2022 with exceptional environmental resilience and high-resolution angle
detection to improve its efficiency by combining a bearing and a magnetic type
encoder. A novel hybrid deep groove ball bearing with a high-performance
two-piece polymer cage was created by SKF in 2022 for use in high-speed
applications. Owing to above mentioned developments, it is anticipated that
automotive bearing market has the potential to grow at higher rates in coming
years.
Key market players in the India Automotive
Bearing Market include:
·
Schaeffler India Ltd
·
SKF Bearings India
·
Timken India Ltd
·
NRB Bearings Ltd
·
Menon Bearings Ltd
·
NTN Bearing India Pvt. Ltd
·
THB Bearings Co. Ltd
·
ISB Industries Private Limited
·
Bimetal Bearing Ltd.
·
JTEKT India Limited
India Automotive
Bearing Market can be segmented by vehicle type, by application type, by
bearing type, by demand category, and by region. On the basis of vehicle type,
the market is segmented into Passenger Car, Light Commercial Vehicle, Medium
& Heavy Commercial Vehicle, and Two-Wheeler. Based on the application type,
it is further segmented into Engine, Transmission, Wheel, Steering, Others. Furthermore,
on the basis of Bearing Type, the market is segmented into Ball Bearing, Roller
Bearing, and Plain Bearing. Based on the demand category, the market is divided
into OEM and Aftermarket. Furthermore, the market is also divided into region
wise mainly into North, West, South and East.
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“Rapid growth in automotive industry in India is expected to boost the automotive
bearing market in coming years. Two-wheeler segment continues to dominate the
market due to large volume of two wheelers sold in India as overall revenue,
with the addition of electric passenger cars in the market. The addition of electric
vehicles in the Indian automobile industry is expected to drive the automotive
bearing industry at higher rate in the forecast years.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India
Automotive Bearing Market Segmented By Vehicle type (Passenger Car, Light
Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler), By
Application (Engine, Transmission, Wheel, Steering, Others), By Bearing Type
(Ball Bearing, Roller Bearing, Plain Bearing), By Demand Category (OEM,
Aftermarket), By Region (North, West, South, East), Competition Forecast &
Opportunities, 2018- 2028F” has evaluated
the future growth potential of India Automotive Bearing market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the India Automotive Bearing Market.
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